General

What is the process to change MF Tax status online?

STEP 1 - View list of folios to be converted
Login to your ICICI Direct account >> Mutual Fund >> Services >> “NRI Tax Status" to request for tax status updation of eligible folios>> View list of eligible folios >> Select all folios >> Click on “Send request” option

STEP 2 - Download prefilled form for Signature
Post submitting, download the prefilled request form (mandatorily) and click on “Continue” option

STEP 3 - Upload Signed form & Supporting Document
You will be redirected to Mutual Fund – Orders – NRI Tax Status Order book automatically. Please upload the prefilled form wit signature and other details (if any) including new and old bank proof as per given instructions

STEP 4 - View request submission status
Post submitting document, request status will be changed to “Document Uploaded”

STEP 5 - Track AMC action status
a) If request is rejected, rejection reason will be updated in NRI Tax Status Order Book. Post clicking on Rejected, rejection reason can be viewed.
b) If request is executed, it will be shown as “Executed” as below in Tax Status Order Book. Customer will be able to place order using this folio post successful execution

THE SUPPORTING DOCUMENTS REQUIRED-
• Pre Conversion-
Old bank account proofs: (any one of the following)

A) Cancelled cheque

B) Any old bank account statement with proper bank attestation (Bank employee name, code, designation, & signature)

• Post Conversion-
New bank account proofs: (any one of the following)
A) Cancelled cheque
B) 3-month bank account statement with proper bank attestation (Bank employee name, code, designation, & signature)

IMPORTANT NOTES-

1. You will be getting option to reject the request and can place order before the Document upload. Once Document is uploaded, you will not have any option to cancel the request.

2. Folios held in Joint Holding mode in Mutual Fund account with NRI tax status should have the same joint holders that were registered for mutual fund in the resident tax status account.

3. The above-mentioned process is for RI to NRI conversion done with same trading user ID only